How to Create CIP Assets and Capitalize the same

[@anandkhangarot8694]

Thank you so much. May god grant you endless happiness

[@OracleEbizandFusionVideos]

Thanks

[@auroremahoro1022]

Thank you very much, the explanation is really good

[@OracleEbizandFusionVideos]

Thanks for the feedback

[@silver0327]

Hello , thanks for explanation. Can we spilt CIP asset to multiple assets and if yes how ?

[@PANKAJSHARMA-sg7ho]

beautiful video ❤

[@OracleEbizandFusionVideos]

Thank you very much!

[@kasi36]

Nice explanation.

[@OracleEbizandFusionVideos]

Thanks

[@abdalaalabdalaal9085]

thank you very very much boss

[@OracleEbizandFusionVideos]

Thanks for your feedaback

[@poojapal3056]

Is there any way to capitalise CIP assets in bulk?

[@pixelangle7488]

Hi, Thanks for the explanation. I have a doubt. I have an asset in CIP. I need to capitalize it. But I want to put date in place in 2013, and i have Dec'19 period open in my books for Fixed Asset. Please let me know what effect i will have in my books if the date in place is Jun'13 after running the depreciation.

[@OracleEbizandFusionVideos]

In this case, system would calculate depreciation from 2013 to Dec-2019 and calculated depreciation would be captured in system in Dec-2019 period

[@puneetkaur1066]

Thanks for explaination. In case we have more than one asset to capitalise from CIP asset. Howe we can capitalise asset in FA module?

[@OracleEbizandFusionVideos]

Do you mean you want to capitalize a CIP Asset of say 50K into two assets of 20K and 30K?

[@puneetkaur1066]

@@OracleEbizandFusionVideos yes

[@OracleEbizandFusionVideos]

@@puneetkaur1066 Add two zero dollar CIP assets... Add say 20K cost (which has come from AP) to CIP Asset 1, add 30K cost (which has come from AP) to CIP Asset 2 and then capitilize these two assets

[@puneetkaur1066]

@@OracleEbizandFusionVideos Yes

[@puneetkaur1066]

@@OracleEbizandFusionVideos Is it correct to create new asset by Web ADI for 30k and existing CIP asset capitalise for 20k. Is this correct way to account in Oracle?

[@govardhaniethirajan1563]

hi sir do you have video on capital interest for capital projects

[@OracleEbizandFusionVideos]

Is this in Oracle Projects? If so, no... I have so far not started any videos on Project Accounting modules

[@govardhaniethirajan1563]

@@OracleEbizandFusionVideos thanks a lot for the reply yes it is for oracle projects.

[@VarshaChopra]

Is it possible to retire an asset in the same month in which it is capitalized?

[@OracleEbizandFusionVideos]

Yes, its possible to retire an asset in the period in which its added

[@VarshaChopra]

@@OracleEbizandFusionVideos do we need to run the depreciation before retiring an asset which is recently capitalized.

[@OracleEbizandFusionVideos]

@@VarshaChopra Depreciation program needs to be run at the end of month after all period activities are completed (i.e. Asset Additions, adjustments, retirements, reclassifications etc...)

[@KumR]

Oracle Ebiz and Fusion Videos - If depreciation is run, can asset be decapitalized?

[@sanjaypriyadarshi]

Yes it’s possible

[@thirdlibanan3730]

Hello sir. It really helps. But i have a question pls. How to make sure when you run the CIP detail/summary report there would be an output data? Or what is the next step in order for us the report have the data?? Thanks

[@OracleEbizandFusionVideos]

Whats happening in your Oracle environment when you run CIP Detail/Summary report? There is no extra step required... If there is a CIP data in your Oracle environment, then this report should show the required data.

[@amarena2000]

Hello Sir, Thanks for explaination!!! we are at putting CIP assets into our accounting. I have a question: Does it matter if we take an equal account for asset clearing and for CIP clearing (in the Asset category Settings)? What other dependents has CIP Clearing account. Can you Help??

[@OracleEbizandFusionVideos]

From system perspective, system might allow you to select same account as both CIP Clearing and Asset Clearing account... But, from accounting and reporting perspective, its always suggested that you use different accounts

[@srinuvas5899]

Hi Sir, We have two assets which are not copied to tax book. Upon running the periodic mass copy we got warning as "Cannot copy this cost adjustment since this asset has been revaluated" and we checked both asset cost is different in both books. As per process we have to adjust it manually. So can you please let me know how we can do the capitalization manually in Tax book only. Thanks.

[@OracleEbizandFusionVideos]

So, in your example are you saying you have CIP Asset which exists in both Corporate book and tax book but want to capitalize the asset only in Tax book but not in Corp book? If so, what exactly is the business reason why you want to capitalize the asset only in Tax book but not in Corp book?

[@srinuvas5899]

@@OracleEbizandFusionVideos Hi Sir, Upon checking the asset i noticed the asset type is capitalized i think business want to add the cost so that next time it will be synched with the corporate book. Can you please confirm if asset cost is same in both books in future it will copied correctly? Thanks.

[@shaileshverma4354]

Can we create asset with some cost under clearing account directly in FA module.

[@OracleEbizandFusionVideos]

Yes, you can do that... But you need to clear the balance under Asset clearing account by passing some journal entry in GL....otherwise, balance will continue under Asset clearing account

[@informationbdnahid9121]

I Want To Do Planing to work on cip marketing, Can I Do It?

[@KumR]

Nice. Can we “decapitalize” an asset ?

[@OracleEbizandFusionVideos]

There is nothing called Decapitalize....If you are referring to reversing the effect of Capitalize.... then you can try the option of "Reverse" button with the Capitalize asset screen

[@KumR]

Oracle Ebiz and Fusion Videos Yes thats what I meant but can we do it if depreciation has been run?

[@azadsable2527]

Once the 'Amortize Adjustment' flag is checked, it cannot be unchecked anymore, why? Can you please elaborate on this. Thanks in advance (The case is user has accidentally marked the checkbox)

[@OracleEbizandFusionVideos]

Unfortunately, thats the system functionality wherein once you make any cost adjustments with "Amortize Adjustment" flag checked, all future cost adjustments will be by default needs to be created Amortized as we cannot uncheck this checkbox

[@lindachang3277]

Can this done by import?

[@OracleEbizandFusionVideos]

If you look at my video, there are couple of steps... which step are looking to do via import?

[@mart9210]

What report can I run to ensure CIP assets or capital assets were added to the correctly?

[@OracleEbizandFusionVideos]

Try running CIP Assets report